RE:PatienceRiceking
My patience is wearing very thin, but I have no idea what to do about it.
It has become clear to me that engineers should be hired by companies - they should not be put in the position of CEO!
It would appear that engineers are too conservative. They are deathly afraid of promoting the company, or it's assets. If a company does not promote itself, how does anyone know that it exists. Even the largest, most successful companies in the world promote themselves.
I am totally disappointed in the management of Ascot and the performance of the stock - I am underwater to the tune of several millions of dollars!
I acknowledge that it does not do any good to whine and complain on boards such as this, but I had to get my thoughts off my chest.
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Yes some of the management here including the CEO did very well before with Quadra / FNX several years ago but this time around it is hard to see how they are performing very badly. Kind of reminds me of Rob Mcewen who did very well with Gold corp but is going nowhere with Mcewen mining. Because someone had sucess one time does not mean they will next time around.
Ascot has a mine that was previously operating with all the infrastructure including the processing building, extensive underground workings and drilling, and all the other infrastructure and a lot of relatively rich gold quite close to a small city, paved highway and deep sea port. With so many advantages they can not find anyone to invest a hundred million or so dollars which is a quite a small amount for a potential 150 000 ounce per year low cost producer. Something just does not add up here.
At the same time if you really are down several million dollars on this stock you really have nobody to blame but yourself as unless you are a billionaire that is a lot of money to put in one small risky stock such as this. You were counting your huge profits on your large investment and now as usually happens with small gold miners trying to start up a mine you got a hard lesson in how it usually goes with these types of companies.
Been there myself more times than i care to remember.